Former World No.14 Peng is the second-highest ranked Chinese player ever after World No.2 Li Na. Among Zheng's feats are becoming the first Chinese Grand Slam semifinalist at Wimbledon in 2008, becoming the second Chinese to crack the Top 20 in 2009 and winning four WTA titles.
Nanchang will be the first of six WTA 125K Series events in 2014, four of which will be in the Asia-Pacific region, and will be the first international sporting event ever held in Jiangxi Province.
In addition to offering $125,000 in prize money, the tournament will offer the Chinese player with the best result a wildcard entry into the Premier Mandatory China Open in Beijing this fall.
Jiangxi TV will broadcast the matches until the final, which will be shown live on CCTV Sports at 16:30 local time on July 27.
A regional junior tournament will be held simultaneously as the WTA 125K Series event at the Nanchang International Sports Centre, with juniors from 11 cities across Jianxi Province invited.
Other WTA 125K Series events in 2014 will be held in Suzhou, China (week of September 1); Ningbo, China (week of October 27); Taipei, Chinese Taipei (week of November 3); Limoges, France (week of November 3); and Raanana, Israel (week of November 10).